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News

How to Get Started with Year-End Small Business Planning

year-end planning

It’s the most wonderful time of the year to start year-end planning for your business. The question many may be asking is ‘where do I even start?’ We’re sharing our timeline and dos and don’ts because right now is the perfect time to start planning so your business is ready to start the new year off with a bang! You don’t want to be left behind come January 1st.

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News

What Your Financial Statements Should be Telling You

For many small business owners, accounting is like a foreign language. Good accountants are the effective translators between business leadership teams and your financial data. Your financials are not just a report card on the health of your business, but a communication & accountability tool. At TGG, our goal is to be your partner and translate the financial data in a clear, concise and meaningful way that allows you to reach your goals.

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News

How to Build Your Cannabis Accounting Department for Successful Tax Compliance

Taxes and reporting compliance can either be a source of stress or comfort for cannabis business owners. From Income Tax and 280(e) to Cultivation (ending 6/30/22), excise, sales taxes and 8300 reporting, there are many hoops to jump through to keep the State, Uncle Sam (and investors) happy. Business owners in the space can help themselves by surrounding themselves with a team of experts to put these strategies in place.

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News

The Top 5 Ways to Fight Inflation

inflationinflation

Inflation is here and all businesses are dealing with it in one form or another. While there’s not much we can do to stop it, the good news is there are some ways we can re-strategize and make inflation work for us. We’re sharing our top 5 ways to fight inflation so your business can come out on top! Check out our cheat sheet on how much you can increase prices before losing any clients.

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News

7 Ways to Prepare Your Business for a Recession

protect business from recession

According to the latest inflation report released by the Bureau of Labor Statistics, inflation soared 9.1% in June 2022. While inflation is showing little signs of slowing down, it’s becoming increasingly likely that the United States is heading for a recession, if not already in one. So how do you prepare your business for a recession so you can weather the storm and maintain your profitability? We asked our team and here is our list of what you can do right now to protect your business.

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News

The Top 3 Mistakes Business Owners Make with Inflation

In a time of high inflation, there are three common mistakes that business owners make according to TGG Founder & CEO, Matt Garret. Are you making them in your business?

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News

Your Mid-Year Checklist and Steps to Take to Prepare for Year-End

Your Mid-Year Checklist and Steps to Take to Prepare for Year-End

It’s halfway through the year and we can’t believe it either! Have you set yourself up for success by reforecasting, evaluating your pricing, meeting with your CPA, etc.? There are steps you can take to make sure you’re finishing the year strong as you prepare for next year. Here are our top 3 highlights from our Founder & CEO, Matt Garrett to create safety and security in your business.

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News

Controller vs Accounting Manager: What’s the Difference?

controller vs accounting manager

Controllers and Accounting Managers are supervisors within the accounting department and ensure financial tasks are completed accurately and on-time. With both roles close to one another within the department, how can we tell them apart and what’s the difference? You’re about to find out!

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News

The Top Tax Takeaways You Need to Know

top tax takeaways blog image

The U.S. Tax Code is over 60,000 pages long, but don’t worry, you don’t have to read it. We’re summarizing several tax law changes affecting small businesses.

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News

How To Determine Owner’s Equity in a Business

Owner Equity Blog Image

Equity equals ownership. How do you determine the owner’s equity in a business? We share a simple equation that you can use today.

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News

How to Finance Your Business & Stay Profitable in an Inflationary Environment

Rising Inflation Chart

Inflation is a major problem. The latest data from the consumer price index, show inflation rose 7% in December 2021. The fastest pace since June of 1982. In the business context, it’s important that you start thinking about how you finance your business in a rising interest rate environment which we are currently in.

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News

MJBiz Acquired by Emerald Expositions for $120M

mjbiz conference

With support from TGG during due diligence, MJBiz was sold to Emerald Expositions for $120M. We spoke to them about how this deal came together and what’s next!

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News

When You Should Outsource Your Accounting

when to outsource blog image

Are you looking to simplify your small business and make it easier to manage so you can spend time on the things that really matter? Or do you have large goals for your business, but you aren’t quite sure where to start? Outsourcing your accounting department can help you achieve all the above and more! If you aren’t sold on outsourcing your accounting yet, keep on reading to find out everything you need to know.

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News

What are Key Performance Indicators (KPIs) and Why Are They Important?

A KPI is defined as a Key Performance Indicator. Key Performance Indicators (KPIs) and metrics are graphical measurements of how your business is achieving measured results. They can be utilized for every business industry. High-level KPIs may focus on the overall performance of your business, while low-level KPIs may focus on processes in departments such as sales, marketing, human resources, operations, support and others.

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News

The Importance of Cash Flow for Startups

importance of cash flow for start ups blog

As a business owner, wouldn’t life be easier if you knew what was going to happen in the future? Of course! You would know when money’s coming in and going out, the right time to hire staff, the best marketing strategy, etc. One area all business owners need to focus on is cash flow. Cash flow is vital for young start up companies with limited capital.

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News

U-T San Diego Names TGG a Winner of the metro San Diego Top Workplaces 2021 Award

TGG has been awarded a Top Workplaces 2021 honor by U-T San Diego Top Workplaces. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The anonymous survey uniquely measures 15 culture drivers that are critical to the success of any organization: including alignment, execution, and connection, just to name a few.

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News

Reasons to Outsource Your Accounting

person on a video call

Outsourcing is as simple as hiring another company, like TGG, to perform certain tasks or serve as a specific department within a company. There are many factors that go into determining which tasks or departments to keep in-house and which to outsource. If you aren’t sure where to begin, outsourcing your accounting could be a great place to start.

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covid-19, News

Cash is King, But Profits Generate Cash

cash flow

There are three big things going on in the world affecting small businesses right now. Inflation, labor shortages and supply chain problems. How can you use your cash flow to drive profits in the current economic environment? We have a philosophy that cash is king, but profits generate cash. So how much cash is enough and what do you do if you have too much cash?

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https://tgg-accounting.com/wp-content/uploads/2021/09/AdobeStock_320849637_Cash-flow_Compressed.png 461 1065 Kaiti Weimer https://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gif Kaiti Weimer2021-10-19 09:38:432021-10-19 14:33:36Cash is King, But Profits Generate Cash
covid-19, News

How to Prepare for a Supply Chain Disruption in the Future

There are three big things going on in the world affecting small businesses right now. Inflation, labor shortages and supply chain problems. How can you use your cash flow to drive profits in the current economic environment? We have a philosophy that cash is king, but profits generate cash. So how much cash is enough and what do you do if you have too much cash?

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News

Three Ways to Find, Hire & Retain Employees Right Now

hiring

One of the biggest challenges facing all of us right now as business owners, is how do we find good employees, hire them and get them to want to be productive when there’s government stimulus money out there? To answer this question, we’re providing three ways to find, hire and retain employees starting right now!

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News, Team

Inventory Turnover & Your Cash

people reviewing inventory

Are you tying up your cash in inventory? Inventory-based businesses know that when you carry a lot of inventory, it soaks up a lot of your cash. Find out what you can do to speed up your inventory turnover to free up resources for your business.

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News, Team

How to Eliminate Fraud in Your Business

eliminate fraud

Can you afford a $200,000 case of fraud in your business? We break down the simple steps you can take to make sure fraud doesn’t happen to you.

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News

Why Now is the Time to Sell Your Underutilized Cars

used car lot

Does your business own a fleet of vehicles? Are any of them underutilized? Now may be the perfect time to sell your underutilized or used cars to turn a profit for your business.

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News

What To Do With Extra Cash

extra cash

Is it even possible to have too much cash in your business? It is! With all the Paycheck Protection Program (PPP) money being given to small businesses, some people are finding themselves in a position of too much cash. The question to ask yourself is, “How much are you earning on that cash?”

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News

The Impact of Reducing Your Merchant Fees

merchant fees

Merchant fees are fees that you pay to credit card companies to process credit cards that you accept from your customers. These fees typically range anywhere from 1.8% to 2.8%, but they can be as high as 3% to 3.5% if you have a lot of fraud, credits or returns.

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covid-19, News

4 Tax Credits That Will Save You Thousands

tax credits

Right now, there are trillions of dollars in government stimulus money going into the economy and one of the places that the government has put this money for businesses is in tax credits. There are four key tax credits that you need to be thinking about and possibly take advantage of today.

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covid-19, News

What You Can do to Improve Cash Flow, Hiring & Combat Inflation

Recently released inflation data showed an increased rate of 4.2% year-over-year and 0.8% month-over-month. This is the fastest rate of inflation that we’ve seen since the early 1980s. What does that mean for you? It means that the prices of everything are going up. As a small business, if you don’t do anything and your prices stay the same, and the cost of everything else goes up, you’re going to end up making less money.

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https://tgg-accounting.com/wp-content/uploads/2021/06/AdobeStock_71584055-scaled.jpeg 1791 2560 Kaiti Weimer https://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gif Kaiti Weimer2021-06-16 15:31:462021-09-23 20:50:27What You Can do to Improve Cash Flow, Hiring & Combat Inflation
News

Should Your Business Accept Cryptocurrency?

Bitcoin

Cryptocurrencies, like Bitcoin, have been making headlines recently. One day they’re up and another day, they’re down. They’re going to continue to do that. The question is, should you accept cryptocurrency in your business and should you bill some of your customers in cryptocurrency as well?

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News

How to Protect Your Accounting from Cyber Attacks

cyber security

Your accounting file holds the history of your business. Don’t lose it. TGG Founder & CEO, Matt Garrett explains two ways that you can protect your business and your accounting right now from cyber attacks.

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covid-19, News

3 Ways to Beat Inflation

ways to beat inflation

Recently released inflation data showed an increased rate of 4.2% year-over-year and 0.8% month-over-month. This is the fastest rate of inflation that we’ve seen since the early 1980s. What does that mean for you? It means that the prices of everything are going up. As a small business, if you don’t do anything and your prices stay the same, and the cost of everything else goes up, you’re going to end up making less money.

Read more
https://tgg-accounting.com/wp-content/uploads/2021/05/Inflation.png 634 945 Kaiti Weimer https://tgg-accounting.com/wp-content/uploads/2020/03/TGG-logo_whitespace-300x300.gif Kaiti Weimer2021-05-27 10:53:192021-09-23 19:53:473 Ways to Beat Inflation
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